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Phil Hall
Phil Hall
Dec 21, 2020
News

Avatars Somnium Space Had $20.000 Revenue So Far

Creating avatars for Somnium Space seems to be a lucrative business. There has been $20.000 revenue in less than a month.
Avatars Somnium Space Had $20.000 Revenue So Far

Creating full 3D avatars for the virtual world of Somnium Space seems to be a lucrative business. According to the official Twitter account more than thirty avatars have been minted onto the blockchain, and these were good for more than 20 thousand dollars in revenue. So far the minimum price for an avatar is approximately 1200 dollars.

The most expensive avatar is one called Picasso, which sold for 5.5556 ETH. At the time of the auction that would be more than 3500 dollar. As more people dive into virtual worlds like Somnium Space, Decentraland or The Sandbox, demand for personalized avatars will increase.

In this case each of the avatars is completely unique and users obtain full ownership rights upon purchasing the avatar. Technically these avatars can also be used in other virtual worlds, as they are compatible with for example VR Chat as well.

Within Somnium Space these avatars don't rely on a lot of meta data. In the current versions of the virtual world an avatar is merely a cosmetic representation of the self. However, when it comes to the metaverse it would make sense to embrace that concept. If these avatars would for example feature characteristics like strength, magic and stamina, The Sandbox could potentially embrace them.

Avatars part of online fashion

Down the road it's expected that everybody will move into the metaverse to some extend. Those to whom this new frontier feels most native, will want to express themselves. Cryptovoxels and Decentraland offer wearables, while Somnium Space relies on full body avatars. Last month Genies, a company that creates avatars, received an investment of three million dollars. At the same time Polygonal Mind has been active creating personalized avatars and selling them on the open market using open standards.

To some extend you could see avatars as an extension of the self. It's a way to represent yourself in a virtual space. The importance of digital identities is very obvious, but as netizens we're still figuring out a lot of those things. How do we tie the avatar to an identity, and in what situations would this connection be really necessary? What information do we share unwillingly when using Web3 tools? How do we handle our privacy in a virtual world? Good questions that don't have clear answers just yet.

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